EQT has launched a Middle East platform and opened an office in Abu Dhabi, establishing an on-the-ground presence in the Gulf Cooperation Council (GCC) region.
The new office, located in Abu Dhabi Global Market (ADGM), will serve as the first base for a broader regional platform that EQT plans to develop over time, according to an announcement.
The firm, which manages $389 billion in assets, said it sees investment opportunities across healthcare and life sciences, education, digital and technology, industrials, business services, infrastructure and energy transition.
EQT already has exposure to the GCC through portfolio companies including Nord Anglia Education, Virtusa, Banking Circle, Nothing and SAUR. The local platform will allow it to work more closely with existing portfolio companies and support others seeking to expand into the region.
The Middle East platform will be led by Jimmy Mahtani, who has been appointed chairman of GCC alongside his existing role as chairman of India and Southeast Asia for EQT Private Capital.
Smiyet Belrhiti has been appointed head of Middle East and senior executive officer, leading the Abu Dhabi office. Belrhiti has more than two decades of experience in private equity, corporate development and investment across the GCC and the broader Middle East and North Africa region.
“We see significant opportunities to support the growth of our existing portfolio companies and invest in new businesses across sectors undergoing structural transformation and attracting long-term capital. We believe EQT’s global sector expertise and company-building capabilities can contribute meaningfully to the GCC’s long-term economic development,” said Per Franzén, CEO and Managing Partner of EQT.
The Abu Dhabi team includes private capital and infrastructure investment professionals, as well as capital raising and business operations staff. EQT said the regional platform could also tap its global real estate and secondaries capabilities as opportunities emerge.
With the Abu Dhabi opening, EQT now has offices in more than 25 countries.
On September 9, EQT launched an Asia Pacific-focused evergreen strategy that will give eligible individual and institutional investors access to the Swedish investment firm’s regional private equity platform.
EQT Nexus Asia will invest across the firm’s closed-ended large-cap and mid-market strategies, targeting companies in healthcare, services, technology and industrial technology across India, South Korea, Japan, Greater China, Southeast Asia, Australia and New Zealand.
